Agenda - Council - 10/27/2026 - Laserfiche WebLink

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5. 11. CC Regular Session Meeting Date: 10/27/2026 Primary Strategic Plan Initiative: Promote economic growth and development. Title: Adopt Resolution #26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249 - 6781 Properties, LLC Purpose/Background: The purpose of this case is to consider adoption of Resolution #26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249. On August 6, 2009, the City acquired now known as Tract A, Registered Land Survey No. 249 for future Hwy 10 right-of-way utilizing the Right-of-way Acquisition Loan Fund (RALF) administered by Met Council. The Loan Agreement and Restrictive Covenant filed as Document Number 514444.002 states that if the property is not needed for construction the property should be sold for fair market value and that no improvements can be made until its sold. City Staff listed this property on MNCAR for over one year and received 1 legitimate offer for this property. The Met Council reviewed the offer and has communicated to the City that it has preliminarily accepted the offer presented by 6781 Properties, LLC. The Met Council has also provided the attached Release of Agreement and Restrictive Covenant which will need to be executed and recorded as part of the land sale transaction to release the RALF Loan and deed restrictions. This action item is simply a housekeeping item to clear title for the new buyer and to release the City of any responsibilities for the administration/maintenance of this parcel. Notification: The City of Ramsey has adopted Ordinance #24-11 which authorizes the future sale of all RALF properties held by the City. Time Frame/Observations/Alternatives: The Metropolitan Council has provided preliminary approval for the Sale and Release of the Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249. Alternatives: 1) Adopt Resolution #26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249 (as presented); subject to City Attorney review 2) Adopt Resolution #26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249 (with changes); subject to City Attorney review 3) Something else Funding Source: This action is being done as part of normal staff duties. All proceeds from the sale are remitted to the RALF Program administered by Met Council. The sale of the Property and release of the Agreement and Restrictive Covenant will satisfy all City requirements of RALF Loan L09-05. Recommendation: Adopt Resolution ##26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249 (as presented); subject to City Attorney review Outcome/Action: Motion to Adopt Resolution #26-240 Approving Release of Agreement and Restrictive Covenant for Tract A, Registered Land Survey No. 249 (as presented); subject to City Attorney review Attachments Site Location Map ACTION - Resolution #26-240 ACTION - Release of Agreement and Restrictive Covenant